AOL, Inc. (AOL) Returns To Profitability

Web services company AOL, Inc. (NYSE: AOL) returned to profitability in its first quarterly report since being spun off by Time Warner Inc. (NYSE: TWX).

AOL, Inc. reported net income for the 4th quarter of just $1.4 million, or 1 cent per share, compared with a loss of $1.96 billion, or $18.52 per share, for the same period a year earlier.

According to AOL, it would have earned 71 cents per share after excluding one time charges and costs.

A Thomson Reuters survey of analysts found the consensus forecast to be 62 cents per share.

The results were "a bit 'less worse' than expected," Citigroup (NYSE: C) analyst Mark Mahaney said. Mahaney rates AOL, Inc. a Hold and has a $29 price target for the stock.